Level 13, 20 Bridge Street

Sydney 2000 NSW

Australia

ACN 142 902 985

SIGNATUREGOLD

Signature Gold Limited

Biloela Project Don River Prospects

EPM 25298

Partial Relinquishment Report For 9 Sub Blocks Relinquished 20 December 2018

Author: Signature Gold Limited Date: February 2019

Distribution: DNRM – 1 copy

Signature Gold Limited, Sydney – 1 copy Signature Gold Limited, Brisbane – 1 copy

Level 13, 20 Bridge Street

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ACN 142 902 985

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Summary Signature Gold Limited, a wholly owned entity of Tectonic Gold plc (London NEX: TTAU) acquired a number of prospective tenements in Queensland, prospective for intrusive related gold systems (IRGS), which has been a major focus in Canada, China, North and South America and Russia in recent years. The Biloela Project held 100% by Signature Gold comprises a significant tenement holding over an area of approximately 345km2 (EPM18350, contiguous Specimen Hill EPM19560 and Don River EPM25298 (including MDL313, wholly located in EPM19506) between the regional towns of Calliope and Biloela, some 60km west-southwest of Gladstone in the Central East of Queensland.

Numerous Intrusive Related Gold System (IRGS) prospects are located within the tenement bounds. These principally include but are not limited to the Specimen Hill-Mount Rainbow, Last Chance-Day Dawn, Maxwellton and The E.D. identified gold prospects. This report is presented as the partial relinquishment report of 9 sub-blocks relinquished from EPM25298 that was submitted to the Department of Natural Resources, Mines and Energy on 11 December 2018 and approved by an Authorised delegate of the Minister on 20 December 2018.

Level 13, 20 Bridge Street

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ACN 142 902 985

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The relinquished areas of EPM25298 have been assessed by the Signature Gold team through ongoing field exploration techniques. The relinquished areas of EPM25298 lie outside of the geological, geophysical and geochemical region of interest in terms of the Signature Gold exploration model and its has been assessed that no further on ground exploration in these areas will be completed in the future by the exploration team.

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Table of Contents:

Summary ................................................................................................................... 2 1. Introduction ........................................................................................................ 5 1.1. Location and Summary ................................................................................... 5 1.2. Access ............................................................................................................ 6 1.3. Geography ...................................................................................................... 6 2. General Tenure information................................................................................ 7 2.1. Percentage Holding ........................................................................................ 7 2.2. Grant and Expiry Dates for the Project Tenements ......................................... 7 2.3. Block and sub-block information EPM25298 ................................................... 8 2.4. Partial Relinquishments .................................................................................. 9 3. Land Use and Native Title ................................................................................ 11 3.1. Native Title Aboriginal Heritage..................................................................... 11 4. Geological Data ................................................................................................ 13 4.1. Summary ...................................................................................................... 13 4.2. Regional Geology and Metallogeny .............................................................. 14 4.3. Local Geology ............................................................................................... 15 4.4. Geology of areas relinquished ...................................................................... 16 5. Philosophy and objectives of Exploration ......................................................... 17 5.1. Exploration model ......................................................................................... 17 5.2. Geophysics ................................................................................................... 17 5.3. Geochemistry ............................................................................................... 17 5.4. Objectives ..................................................................................................... 18 5.5. Work Completed in Relinquished Parts of EPM25298 .................................. 18 5.6. Reason the holder has relinquished the area ................................................ 19 References: ............................................................................................................. 20

Level 13, 20 Bridge Street

Sydney 2000 NSW

Australia

ACN 142 902 985

SIGNATUREGOLD

1. Introduction The information contained within this report relates to exploration activities conducted over and on the 9 sub-blocks that were partially relinquished from EPM25298 up until the partial relinquishment approval date of 20 December 2018. The current partial relinquishment area is confined to the Biloela Tenement Assignment (EPM25298). The principal prospect areas located within EPM25298 is located at the south eastern portion of the tenement assignment; namely, the E.D. prospect, a look alike to the style of Au-As Basemetal mineralisation found at the Last Chance/Day Dawn prospect 5km south of the E.D and located within EPM18350. The latest relinquishment area proposed for EPM25298 is essentially peripheral to the main zone of interest. Based on observed as well as inferred styles of gold and base metals mineralisation, the E.D. Prospect is classed as an “intrusion related” deposit, and can be further distinguished as an Au-As-Basemetal multi-vein system.

1.1. Location and Summary The Biloela Project held 100% by Signature Gold comprises a significant tenement holding over an area of approximately 345km2 (EPM18350, contiguous Specimen Hill EPM19560 and Don River EPM25298 (including MDL313, wholly located in EPM19506) between the regional towns of Calliope and Biloela, some 60km west-southwest of Gladstone in the Central East of Queensland.

Figure 1 Biloela Project Location and tenements prior to the December 2018 Partial

Relinquishment.

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ACN 142 902 985

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1.2. Access Access to the project area is obtained via the bitumen sealed Burnett and Dawson Highways which run from Rockhampton and Gladstone respectively. Both access roads provide ready access to local sealed roads and cattle station access tracks to the central part of the Project area within EPM25298.

Figure 2 Access options for the Don River Tenement (EPM 25298)

1.3. Geography The topography within EPM25298 is quite variable, with most of the area being covered with distinctive undulating volcanic hills, steep valleys and where the large Mount Gerhard dome granites are encountered, large flat to slightly undulating plains. Much of the project area is covered with scattered to thick forest (Ironbark’s and Spotted Gum), with the land is used primarily for low intensity cattle grazing to the south, but some timber harvesting also occurs.

Level 13, 20 Bridge Street

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ACN 142 902 985

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2. General Tenure information

2.1. Percentage Holding The Biloela Project and all related tenement holdings over the Biloela Project are wholly owned and operated by Signature Gold Limited.

Table 1 – Percentage Holding of Signature Gold Limited for the Biloela Project

HOLDER Percentage

Signature Gold Limited 100%

Total 100%

2.2. Grant and Expiry Dates for the Project Tenements Prior to the Voluntary Partial Relinquishment of the 9 sub-blocks from EPM25298; Exploration Permit for Minerals (EPM) 18350, EPM 19506, EPM 25298 and MDL 313 grant and expiry dates were as follows.

Table 2 –Biloela Project Tenement Assignments

Biloela Project – Signature Gold Limited

TENEMENT GRANT DATE EXPIRY DATE TENEMENT SIZE

EPM 18350 26 March 2010 25 March 2019 168km2

EPM 19506 2 July 2012 1 July 2021 100.8km2

EPM 25298 7 April 2014 06 April 2020 75.6km2

MDL 313 1 October 2000 30 September 2019 112Ha

Figure 3 – Biloela Project Tenement Suite

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ACN 142 902 985

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2.3. Block and sub-block information EPM25298 Exploration Permit for Minerals (EPM) 25298 prior to this partial relinquishment covered an area of approximately 75.6km2, is known as the “Don River Permit” and comprises a portion of the greater Biloela Project in the Biloela Region. Signatures application to acquire a 100% deal in into EPM 25298 was approved by the Minister on the 7th April 2014 for 3 years ending 6 April 2017. From the grant date onwards Signature have been actively exploring the area in line with the Exploration Strategy put forward for the Biloela Project. Following this a 3 year renewal application was approved by an Authorised Delegate of the Minister of Natural Resources and Mines on 31 March 2017 and the current permit is in-force until 7 April 2020. The tenement summary details comprising EPM25298 prior to the current relinquishment were as Table 1 below: Table 3 EPM25298 Tenement Summary – Pre Relinquishment

Tenement I.D. Holder Interest Status Sub-status

EPM 25298

Signature Gold 100% Granted N/A

Sub-blocks held

Approximate area Grant Date Expiry Date

45 126km2 07/04/2014 07/04/2020

*BIM and Block No

SUB-BLOCK No.

**BRIS, 7 E, T, U, Y, Z

BRIS, 8 A, F, G, H, J, L, M, N, O, Q, R, S, T, V, W, X, Y

ROCK, 3391 S, T, X, Y, Z

Environmental Authority EPSX01386913

Environmentally Sensitive Areas

Category A Category B Category C Affected area

- Endangered

Regional Ecosystems

State Forest <30%

*BIM = Block Identification Map **BRIS is an abbreviation of Brisbane

Most recently Signature applied to the DNRM for a variation for project status on the Biloela Project (EPMs 18350, 19506 and 25298) on 13/02/2017 that was subsequently approved, effective from 16/05/2018.

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2.4. Partial Relinquishments

Signature Gold Limited maintain a partial relinquishment strategy to remain in good standing with the Department of Natural Resources and Mines (DNRM) and endeavour to relinquish the required sub-blocks within the applicable relinquishment year. The exception being when nil-relinquishment is granted for the Tenement Assignment by the Minister or authorised delegate of the minister upon request under special circumstances by Signature Gold. Signature Gold Limited as per the agreed relinquishment schedule within the accepted tenement assignment documentation and conditions of grant for the EPM pursuant to s139, s140 and s141 of the Mineral Resources Act 1989 (MRA), submitted the following sub-blocks (listed in Table 4 below) for voluntary partial relinquishment to the Department of Natural Resources and Mines. This request was applied for by Signature on 11 December 2018 and acknowledged received by the Department of Natural Resources, Mines and Energy on 20 December 2018.

Table 4 Partial Relinquishment of 9 Sub-blocks for EPM25298

EPM 25298 – Partial Relinquishment nomination

BIM BLOCK Sub-Blocks

BRISBANE 7 T, U, Y, Z

BRISBANE 8 A, G, H, J, O

Figure 4 - Partial Relinquishment Area of EM25298

Level 13, 20 Bridge Street

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ACN 142 902 985

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Figure 5 - Comparison maps before and after partial relinquishment of 9 sub-blocks from

EPM25298

The relinquishment took effect on 20 February 2019.

Level 13, 20 Bridge Street

Sydney 2000 NSW

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ACN 142 902 985

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Table 5 EPM25298 Tenement Summary details of EPM25298 after the 9 sub-blocks voluntary partial relinquishment was approved

Tenement I.D. Holder Interest Status Sub-status

EPM 25298

Signature Gold 100% Granted N/A

Sub-blocks held

Approximate area Grant Date Expiry Date

18 50.4km2 07/04/2014 07/04/2020

*BIM and Block No

SUB-BLOCK No.

**BRIS, 7 E

BRIS, 8 F, L, M, N, Q, R, S, T, V, W, X, Y

ROCK, 3391 S, T, X, Y, Z

Environmental Authority EPSX01386913

Environmentally Sensitive Areas

Category A Category B Category C Affected area

- Endangered

Regional Ecosystems

State Forest <30%

*BIM = Block Identification Map **BRIS is an abbreviation of Brisbane

3. Land Use and Native Title

3.1. Native Title Aboriginal Heritage EPM 25298 was granted in respect of exclusive background land tenures only (where native title is considered to have been extinguished). Non-exclusive background tenures within the tenement (areas highlighted in blue on Figure 3, were excluded from the grant of the tenement. Table 6 Native Title Claim Activity – EPM25298

Tenement Claim No. Claimant Contact Details

Is Native Title Claim applicable

to Native Title Conditions for

the Tenements?

EPM 25298 QUD400/2012 Gaangulu Nation

C/-HWL Ebsworth Lawyers

NO

Level 13, 20 Bridge Street

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Figure 6 Exclusive and Non- Exclusive Background Tenures draped on new EPM 25298

boundary – Note Red hatched area represents partial relinquishment area

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4. Geological Data

4.1. Summary The NEO is a tectonic collision zone where multiple cycles of crustal extension have created a complex belt of thrusts, folds and shears. These mantle-tapping structures and associated intrusive activity have created an ideal setting for Intrusive Related Gold System (IRGS) formation in a metallogenic corridor that stretches over 1000km (Figure 7).

Figure 7 NEO Generalised Geology and Biloela and Mt Cassidy Projects in relation to the Mount

Morgan - Kilkivan Metallogenic Belt

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Over 50 million ounces of gold has been discovered and mined in the region and it hosts numerous multi-million ounce deposits including the storied Mount Morgan and Gympie fields.

4.2. Regional Geology and Metallogeny

Figure 8 -Tenement package and Regional Geology of the Biloela Project Area, illustrating the major batholiths accompanying intrusive activity surrounding the Biloela Project. The Craiglands Quartz Monzodiorite and Galloway igneous complex typifies the IRGS setting of the region.

The Biloela Project also lies some 30km east of the Grevillia and Rannes Thrust Belt (ie: Gogango Thrust and Fold Belt – GTFB), in a similar tectonic position to the northern Mount Morgan Project (cf: equivalent Develin Creek and Fitzroy River Thrust Belts). The Biloela Project is transected by a large composite, east – west trending batholith complex, the Galloway Pains Igneous Complex (GPIC), which cuts across the regional NW structural grain represented by long lived Devonian “Alma Vale Tectonic High” and post-Carboniferous horst-graben structures of the basement Yarrol Province or YCT which is the northern Queensland extension of the New England Orogen (NEO). Much of the area is also covered by the Late Carboniferous orogenic conglomeratic blanket of the Youlambie Conglomerate, largely obscuring older underlying litho-structural relationships.

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Contemporary tectonic – metallogenic analyses, show these transverse type lineaments / structures, are favoured locales for Porphyry Au-Cu / Cu-Au and Intrusion Related Gold Systems (IRGS) mineralisation (eg: New Guinea gold and porphyry province, Domeyko porphyry belt). Both the mineralisation identified at the E.D. prospect within EPM25298 and also at the Last Chance- Day Dawn prospect (within EPM18350 – not subject to this partial relinquishment) is associated with structures that rim the periphery of the major transcurrent E-W trending, Upper Permian to Lower Triassic batholith, comprised of the Craiglands Quartz Monzodiorite (CQM) (Figure 8).

4.3. Local Geology The E.D Prospect consists a number of relatively flat lying “reefs of quartz, quartz and clay (that are variably gossanous) and clay, occurring in zones of weakly altered syenitic / quartz diorite country rocks. The reefs average 1.5m thick and occur over a total area of approximately 20m – 30m. This multi-vein system of intrusion related gold-basemetals mineralisation, extends over about 100m in strike along a complexly deformed, eastern structural margin of a Late Permian igneous intrusive complex, the Craiglands Quartz Monodiorite, and a geomorphological structure, referred to herein as the Mount Gerard Dome. The comagmatic Inverness Volcanics, to the NW of the Prospect, may be remnants of a caldera structure. This multiphase granitoid batholith volcanic complex, is rimmed by several smaller, Triassic satellite plutons, which have a less intense moderate to strong airborne magnetic signature. The granitoid cored Mount Gerard Dome is capped by relatively thin roof pendants of the late Devonian Smokey beds. East margin of the Dome is bordered by the NE trending Bottle Tree Mountain Graben, with peripheral detachment inliers of the Early Permian Yarrol Formation. This entire domal complex is rimed by the Youlambie Conglomerate. The gold prospects are hosted in a complex structural belt, partly in massive andesitic volcanics of the Smokey beds and partly in bedded sediments and volcanics of the Yarrol Formation. Within and around the area of the E.D. Prospect a series of Early Permian interbedded andesitic volcanics and interbedded shales and siltstones of the Youlambie Conglomerate are introduced by the Permo-Triassic Mount Gerard Complex consisting a coarse grained syeno-diorites and quartz diorites. A series of mainly andesitic volcanics form the moderate topography to the north of the immediate area surrounding the E.D. Prospect, These volcanic andesites consist feldspar porphyritic or equigranular with pronounced dark amphiboles found interstitially in the matrix. The andesites are interbedded with bedded cherty siltstones and shales, similar to those found to the west of the prospect.

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The intrusion of the Mount Gerard Complex coarse grained syenite, syeno-diorite or quartz diorite is prominently found in the southern and western areas of the prospect area and is characterised by a recessive hornfelsed alteration zone for about 100m into the country rocks. Dykes consisting of various andesite feldspar porphyry, fine grained andesites and larger micro-diorites intrude all rock in the area.

4.4. Geology of areas relinquished

Principally, parts of the northern eastern and south western areas of EPM 25298 has been relinquished based upon the following reasoning:

Figure 9 - EPM 25298 Local Geology and relinquished area geology

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A NW-SE trans-tensional graben structure called the Eulogie Park Rift Belt (EPRB) is clearly evident by the down-faulted block of Youlambie Conglomerate and Balaclava Formation,

To the SE of the Eulogie Park Zoned Complex (EPZC), which represents one of several zoned Late Permian (mainly gabbroic) to Early Triassic (mainly more intermediate to felsic) complexes, is distributed in a curvilinear belt west of, and paralleling the Yarrol Fault.

The disrupted EPZC comprises of an outer Late Permian Layered Gabbro complex (includes layered Fe-Ti-V mineralisation) and an inner Early Triassic dioritic intrusive complex, which based on Signatures Metallogenic model is not of interest to Signature at this stage.

Based on field assessments and these above structural and metallogenic criteria, Signature chose to relinquish this area.

5. Philosophy and objectives of Exploration

5.1. Exploration model The exploration thesis is based on observed as well as inferred styles of multi-vein “intrusion related” Au-As-Basemetal occurrences and vectors to a potential porphyry source within the bounds of EPM25298

5.2. Geophysics The primary airborne geophysical data was taken from QDME (Rockhampton / Monto) openfile survey magnetics from flown in 1995 (at line spacing of 400m, flight direction of 45/225 degrees and a flight height of 80m). This information was reprocessed by Geoimage Australia, with the following images highlighting the geological, structural elements. High magnetics generally reflect the dominant phases of the Permo-Triassic intrusive complexes, although smaller low magnetic bodies are present. High radiometric responses largely relate to granitoid intrusions and the felsic conglomeratic succession of the Youlambie Conglomerate.

5.3. Geochemistry Signature Gold compiled multiple sets of the historical geochemical surveys that were taken from open file exploration reports covering the Biloela Project area. These included both regional stream sediment sampling as well as detailed soil sampling over the principal gold prospect areas. Areas of significant anomalism were generally confined to the known prospect areas and not inside the areas relinquished.

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5.4. Objectives Prior to embarking on detailed ground; including drilling, and airborne surveys, it has been Signature’s approach to fully reassess the large amounts of prior company exploration data and particularly the recent Qld Geological Survey output of geological and geophysical data sets. Signature’s principal targets include both “intrusion related gold systems” (IRGS) as well as “porphyry gold systems” of the transitional porphyry-epithermal type. Given the size potential of these metallogenic systems and the probable necessity of targeting drilling to depths of 300 to 500m plus, it has been Signature’s objective to maximise utilisation of all available data prior to embarking on detailed targeting and drilling.

5.5. Work Completed in Relinquished Parts of EPM25298

In addition to several field reconnaissance visits to the tenement area as whole, and extensive reviews of open file and published Qld Geological Survey data, primary work was concentrated on the assessment and reprocessing of geophysical and geochemical data sets. This assessment covered the peripheral areas which are subject to the current relinquishment. The primary airborne geophysical data sets were reprocessed by Geoimage Australia, highlighting the geological, structural and probable “hydrothermal alteration” aspects of the property. The relinquished areas were largely outside of the “favourable response” area which has been retained. Signature Gold compiled numerous sets of the historical geochemical surveys that were subsequently “cleaned” and cross-referenced to the complied data purchased from the QDME (geochemical compilation by Terra Search Pty Ltd in collaboration with the QDME). This procedure was completed to make sure that all the data contained within the Terra Search data was complete, and was traceable/ referenced to the original data compilations by previous exploration companies (for reporting purposes). The relinquished areas generally had a “non-significant” geochemical responses related to high sulphidation epithermal or porphyry sources. Signature Gold’s approach is simple, yet sophisticated. By using Univariate statistical techniques within the historical multivariate datasets, Signature was able to identify anomalous areas within the Don River Tenement that were deemed highly prospective from the aspect of Signature’s metallogenic model. These “anomalous areas” will be subject to follow up surveys utilizing contemporary sophisticated geochemical exploration techniques.

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All primary geological, geochemical and geophysical data, as well as reprocessed data were inputted into Signature’s ArcGIS data base.

5.6. Reason the holder has relinquished the area The relinquished areas lie largely outside of the geological, geophysical and geochemical region of interest in terms of Signature’s metallogenic model; that is the IRGS and porphyry gold-copper models.

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England Orogen: Alan H. Voisey memorial Volume. Geol. Soc. Aust. Spec. Pub. 19, : pp303

Blake, P.R., 2010 Devonian Corals of the Yarrol Province, eastern-

central Queensland. Mem. Assoc. Australasian Palaeontologists 38 :1-191

Beus, A.A. and Grigorian, S.V., 1975. Geochemical exploration methods for mineral

deposits. Applied Publishing Ltd. Wilmette, 287 pp. Goldfarb, R.J. et. al., 2007. Geology and origin of epigenetic lode gold deposits,

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Hanley, J.J., et. al., 2008. Unconventional exploration criteria for intrusion-related

gold deposits: New constraints on metal enrichment processes at Clear, Yukon and Fort Knox, Alaska. Yukon Geol. Surv. Yukon Energ. Mines & Resour. (Poster)

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Hart, C.J.R., 2004. Mid-Cretaceous magmatic evolution and intrusion-related

metallogeny of the Tintina Gold Province, Yukon and Alaska. PhD thesis, Centre for Global Metallogeny,Univ.WA. pp198

Horton, D.J., 1982. Porphyry – type copper and molybdenum mineralisation in

eastern Queensland. Geol. Surv. Qld, Dept Mines Pub., 378 : pp 59

Mair, J.L., 2004. Tectonic setting, magmatism and magmatic-hydrothermal systems

at Scheelite Dome, Tombstone Gold Belt, Yukon : critical constraints on Intrusion – Related Gold Systems. Unpub. PhD Thesis, Centre of Global Metallogeny, Univ. W. Aust.

Morrison, G.W., & Beams, S.D., 1998. Geological setting and mineralisation style of

ore deposits of Northeast Queensland, in Economic Geology of Northeast Queensland, the 1998

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Perspective. 14th Australian Geological Convention, Townsville, :7-38

Murray, C., 2003. Granites of the northern New England Orogen in : P. Blevin,

et.al.(eds), Magmas to Mineralisation ; The Ishihara Symposium. Geosc.Aust. Rec. 2003/14 :101-108

Murray, C.G., et,al., 2012 Geology of the Yarrol Province, central coastal

Queensland. Queensland Geology 13